The ounce of gold has passed above that horizontal channel at 2559. There is an effort to go upwards. The daily chart labels 2542 as intermediate support and 2465 as trend support zone, and as long as it stays above these two supports, the chart shows an upward trend. Here, staying above 2559, which I have been talking about for 2-3 weeks, is relatively positive and the upper channel target of 2672 continues. Therefore, as long as it stays above 2542 - 2465, the ounce does not leave the 2672 focus. I also consider staying above 2559 positive, but in the event of a pressure below 2559, the risk of a short-term minor correction towards 2542 - 2512, in a medium-term exit trend, should also be included in the positions, so that the medium-term target at 2672 is not disrupted. In this sense, investors who have newly taken positions can follow 2559 as a pivot support point. As long as it stays above this area, the 2672 target will remain on the radar. My personal opinion on the question of whether there will be a correction before going to 2672 is that the price is currently at 2585, I expect this chart to make a small correction that will not disrupt the trend before going to 2672. Therefore, the last two daily bars have become quite stumpy for investors who will make new costs. But in terms of price, it is above 2559, so the price sends us the following signal; read above 2559 upwards, but be controlled when making new costs since there is a stumping and dominance in the bars.

When I look at the S&P 500 right now, when I look at the daily chart, the futures side is at 5659 and there are positive prices. There is a recession in America on paper. There is a risk. But the price says, what do I care about your recession, the price is something else. As a result, it has reached a critical area here, there was a correction from 5600 to 5400. They corrected it to the Fibonacci 61.8 golden ratio of the bottom and top in August and made it rise again, completing the intermediate bowl. There is also a cup handle between July and September. One of the most criticized places in technical analysis is when you see a formation but it breaks down without being triggered. Then we will enter a strong upward momentum, a strong yield curve here when it closes above 5646 more than twice. I said more than two closes because it is a daily chart, we need to get confirmation. Therefore, the chart is very clear, will there be a short correction depending on whether it can exceed 5646 or not, or will it go to its new highest under the S&P recession shambles. We will make the decision this week.

Let me explain it in terms of trading. I am reading the movement above the 5535 - 5470 supports upwards. Depending on whether it can exceed 5646 or not, we will make an interim decision at the point of easing or continuing with appetite. We will make the decision of whether it is OK or not. The result is that I will keep the possibility of a correction in my pocket depending on whether the s&p, which continues to stay above 5535 - 5470, can pass 5646 or not in terms of risk management and I am saying this very clearly, I have been saying this for a long time. S&P will make a new peak this year towards 5821 and/or above. I am not saying there will be no pullback because they are playing with the market's perception too much with their recession statements. Therefore, unless there are closings below 5470, the targets of 5646 and then 5821 will remain on the table in the short term.

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